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The Zero Moment of Truth for Credit Cards

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The Zero Moment of Truth for Credit Cards

April 2011

The internet has changed the way we go about getting credit cards. Google partnered with Shopper Sciences to reveal the Zero Moments of Truth for the credit card industry. What we found was that, even though finding a credit card requires research, 25% of shoppers decide which card to get within a matter of hours or less. Online search and information gathering from brand controlled websites were on par with mail received from credit card companies.

How is credit card acquisition behavior changing in a digitally powered world? How effective are traditional ads at changing actual decision making? Google partnered with Shopper Sciences to reveal the Zero Moments of Truth for the credit card industry and found:

For most, a new credit card requires some research, yet one-quarter of shoppers make their decision within a matter of hours or less.

ZMOT and Stimulus sources are equally dominant. Online search and information gathering from brand controlled websites were on par with mail received from credit card companies.

Comparison shopping online was equally as influential as speaking with family and friends. Speaking with customer service representatives and mail received at home from credit card companies also had high influence in this category.

TV ads and talking to friends/family can influence brand reputation of the credit card company/program. When it comes to researching the benefits and awards further, as well as rate information and costs, shoppers have come to rely on ZMOT sources.

When it comes to researching the benefits and awards further, as well as rate information and costs, shoppers have come to rely on ZMOT sources.